Banking the Unbanked With Orbis Transfer
ANN thread https://bitcointalk.org/index.php?topic=3844192.0
Orbis Solutions is the company behind two cryptocurrencies:
Orbis Coin (ORBS)
ORBISInvest coin (ORBSi)
The financial system today is massively centralized. It is being taken advantaged by only a few major players like banks and other institutions. This comes at a great cost to those outside the top 1%, which is really almost everybody.
Wealth inequality, slow money transfer, high fees. These are just a few of many financial hurdles normal people face.
Orbis was made to solve this problem. Through blockchain and NFC technology, they intend to remove the need for 3rd party intermediary services, which are mostly banks. This will allow them to eliminate high fees and costly barriers to entry.
40% of the World is Unbanked
Most of them from developing countries. Orbis aims to one day provide financial access to these underprivileged nations, starting with 3 million unbanked persons across Latin America, Africa, and Asia by 2020. A portion of the company's profits will be used for philanthropy projects that would benefit the previously unbanked.
-Users will have an ORBIS debit card issued to them on the Orbis platform allowing them to send and receive transactions in real-time.
-Other payment cards like Visa and Mastercard are supported as well.
-International transfers and payments settlements will have no limits imposed
-Currency conversion will be supported; but not just cryptocurrencies like Bitcoin but also national currencies like the Dollar and Peso.
Most self-employed workers and many small businesses in underdeveloped countries use cash to do their sales and service payments. Wireless payments could make their lives a whole lot easier.
For this reason, the company will implement the Orbis POS. or point of sale. Point of Sale devices generally look like these.. you mat have found some in your local grocery store.
NFC
They will utilize Near Field Communication or NFC technology, a method of wireless data transfer that enables devices in close proximity to communicate without the need for an internet connection similar to Bluetooth. This will allow seamless transactions and give users the opportunity to integrate their physical wallet safely in their smart-phone.
Orbis will be partnering with chain markets, stores, and businesses to provide them with their market needs, but at the same time establish themselves as a trusted brand and gain new users.
ORBIS also believes that no matter how good the system is, you can't prevent human error, and this is true for banks and current payment transfer methods. Human errors can be time-consuming and very irritating.
In line with this, Orbis aims to automate all financial processes.
They will also operate all of their customer service through an AI chat robot. This interface will be available on desktops, laptops, and mobile devices of all kind. They will also franchise physical futuristic branches all over the world consisting of all the functionalities of the smartphone and desktop platforms, plus cash dispersion. These branches will have a virtual reality interface where customers will have the opportunity to make virtual conversation with one of the chatbots.
The Coins
ORBS is a stable utility coin which will be used as the native currency of the platform in order to move funds around safely. It has a limited supply of 8 trillion coins.
ORBSi is a volatile security coin backed by the company shares of Orbis Solutions. It is meant for crypto enthusiasts and investors. By holding ORBSi coins, you can earn from the coin appreciation on the cryptocurrency and stock exchange market, just like any other stock. It has a limited supply of 240 million coins.
This coming December 15, they will be launching their STO crowdsale. Evidently, they will be selling their security token, ORBSi. If you are interested to check that out https://orbistransfer.com/auth/register/4062
According to the founder, the Orbis blockchain was built from scratch. That basically means it has its own blockchain and is not affected by the slow speeds and congestion of the Ethereum network or other blockchains that are currently overloaded by different dApps.
So what are the downsides of this project? The founder passed the KYC report and they are offering a licensed security so there is no doubt of this project's legitimacy. But will it succeed or not is an entirely different question.
Their biggest challenge is competition. Right now there are thousands of project experimenting with different ways to dominate the digital currency revolution and market share. Orbis is one of many solutions. But being a security token does help give them a little edge. Early adopters and investors are more likely to trust a product from a government-certified company like Orbis Solutions.
Their is also a concern with their use of Artificial Intelligence. AI technology is in it's very early stages even now as 2018 is ending AI is nowhere near the progress of blockchain, which is also a new technology. Assuming Orbis hits their milestone on time and everything goes well, by 2019 they will have physical branches available. But the AI chatbot will likely not be intelligent. Some people may have trouble communicating with it, as a portion of the unbanked are expected to be illiterate to these technologies. But then again, I'm not entirely sure what chatbot is gonna look like. It could be simple and easy to understand, who knows.
Orbis STO https://orbistransfer.com/auth/register/4062
Website https://orbistransfer.com
Lambolife is a crypto researcher and youtuber. Subscribe.
https://www.youtube.com/channel/UCEzs8vsncstg6Ch-zge6OHg?sub_confirmation=1
Bitcointalk https://bitcointalk.org/index.php?action=profile;u=2266484;